Oxford Nanopore Technologies (LON:ONT) Shares Down 10.2% – Here’s What Happened

On December 24, 2024, shares of Oxford Nanopore Technologies plc (LON:ONT) experienced a significant decline of 10.2%. The stock price dipped to a low of GBX 127 ($1.59) and was last seen trading at GBX 128.50 ($1.61). During mid-day trading, the volume surged to 3,354,197 shares, surpassing the average trading volume of 2,182,529 shares by 54%. The previous closing price for the stock was GBX 143.10 ($1.79).

Analysts Set New Price Targets

Recent reports from various brokerages have shed light on the outlook for Oxford Nanopore Technologies. Berenberg Bank reaffirmed a “buy” rating, assigning a target price of GBX 282 ($3.54) on September 3rd. On December 6th, JPMorgan Chase & Co. also restated an “overweight” rating. Additionally, Deutsche Bank issued a report on September 4th, maintaining a “buy” rating and a GBX 190 ($2.38) target price. Currently, five analysts have recommended the stock as a buy, leading to an average rating of “Buy” with an estimated target price of GBX 235.50 ($2.95), according to MarketBeat.com.

Check Out Our Latest Report on Oxford Nanopore Technologies

Oxford Nanopore Technologies Stock Up 1.8%

As of now, the company holds a market capitalization of £1.23 billion. The stock exhibits a P/E ratio of -653.98 and a beta of 0.80. Financial ratios such as the quick ratio sit at 6.01, and the current ratio is 4.45, while the debt-to-equity ratio stands at 8.07. The fifty-day and two-hundred-day moving averages for the stock are GBX 142.50 and GBX 129.78, respectively.

Insider Buying and Selling at Oxford Nanopore Technologies

In related news, insider Gurdial (Gordon) Sanghera sold a substantial amount of shares—1,993,571 to be exact—on October 15th at an average price of GBX 142 ($1.78). This sale totaled approximately £2,830,870.82 ($3,548,791.30). In the last three months, there have been purchases of 310 shares by insiders, amounting to $45,010. The data indicates that corporate insiders currently hold 32.62% of the company's stock.

Oxford Nanopore Technologies Company Profile

Oxford Nanopore Technologies plc is engaged in the research, development, manufacturing, and commercialization of a nanopore-based sequencing platform. This innovative technology allows real-time analysis of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) across various regions including the Americas, Europe, the Middle East, Africa, India, and the Asia Pacific.

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